Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?
Cable Update (GBPUSD)
- #226,561
- May 14, 2010 6:53am May 14, 2010 6:53am
- | Additional Username | Joined Sep 2009 | 8,623 Posts
- #226,563
- May 14, 2010 6:58am May 14, 2010 6:58am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
Thanks again, more notes to take
I can't help but think up myself now as it's gone back above that trend line, which of course means I'd go long and kill BB's trade and you and Quicky can cash in!
Be a bit sensible about it, she moved up 80 pips from the low in pretty much a straight line back to the Franky open, jumping into a long now will not have a great chance of success, she is due for a bit of consolidation before she either continues or reverses. Your skill comes in identifying when and how she leaves each area of consolidation, get a confirmation of direction and you are probably good for another few dozen pips, the longer it takes you to identify that direction the smaller your chance of success becomes and the smaller your profit. This is why you need to choose a TF that suits you, one where you can identify the moves from either reversals or continuation and stick to that TF, hone your skills on exits an entries and identifying areas of repeating PA.
Right now we are back at the resistance formed by the London breakout, before she moved straight to the day's low. A big line in the sand for today, identifying where she goes from here should be good for some good money.
- #226,564
- May 14, 2010 7:00am May 14, 2010 7:00am
- Joined Sep 2006 | Status: Trader | 2,163 Posts
Yes, I Agree
"Invest With The Insiders, Not The Masses"
George Muzea
- #226,565
- May 14, 2010 7:03am May 14, 2010 7:03am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #226,566
- May 14, 2010 7:04am May 14, 2010 7:04am
- Joined Sep 2006 | Status: Trader | 2,163 Posts
"Invest With The Insiders, Not The Masses"
George Muzea
- #226,568
- May 14, 2010 7:08am May 14, 2010 7:08am
- | Joined Apr 2010 | Status: In the red, aiming for the green! | 285 Posts
Be a bit sensible about it, she moved up 80 pips from the low in pretty much a straight line back to the Franky open, jumping into a long now will not have a great chance of success, she is due for a bit of consolidation before she either continues or reverses. Your skill comes in identifying when and how she leaves each area of consolidation, get a confirmation of direction and you are probably good for another few dozen pips, the longer it takes you to identify that direction the smaller your chance of success becomes and the smaller your profit....
I'll get it eventually. Direction I usually get right, but at the wrong time. Either enter when the run is ending, or on a retrace, then get stopped out (if I was clever enough to put a SL on) then it carries on in the right direction.
I'm looking again at how things play out now, just trying to get my entry/exits sorted. I'd be happy at an average +20 pips a day (saying that, who wouldnt probably) and to try to build on that, although the odd bigger one wouldnt go amiss
Thanks for your patience though, I know I test it!
Back to basics, it has to be for me!
- #226,569
- May 14, 2010 7:08am May 14, 2010 7:08am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
My Red line on my Previous weekly chart 79.50 Bottom as u said
But here daily DX And my Target IS.... 86 (Red line)
4H Possible double bottom soon
I could be wrong but this how i see things
Current DX 80
Hope that help
GL ALL
- #226,570
- May 14, 2010 7:08am May 14, 2010 7:08am
- | Additional Username | Joined Sep 2009 | 8,623 Posts
that was 19 November 2006
i loved those days
by the way, i got a chart to show and some targets
http://img38.imageshack.us/img38/5693/13561911.gif
do you agree on 1.2500 or 1.0500
http://img695.imageshack.us/img695/5620/getk.gif
- #226,571
- May 14, 2010 7:09am May 14, 2010 7:09am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
that was 19 November 2006
*******************
I'd rather make money than be right.
- #226,572
- May 14, 2010 7:09am May 14, 2010 7:09am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
I'll get it eventually. Direction I usually get right, but at the wrong time. Either enter when the run is ending, or on a retrace, then get stopped out (if I was clever enough to put a SL on) then it carries on in the right direction.
I'm looking again at how things play out now, just trying to get my entry/exits sorted. I'd be happy at an average +20 pips a day (saying that, who wouldnt probably) and to try to build on that, although the odd bigger one wouldnt go amiss
Thanks for your patience though, I know I test it!
Key here is 4593, if that goes 4633 is next, if it holds we are going back towards the low.
- #226,573
- May 14, 2010 7:10am May 14, 2010 7:10am
- | Additional Username | Joined Sep 2009 | 8,623 Posts
- #226,574
- May 14, 2010 7:11am May 14, 2010 7:11am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
On the other hand ... if the dollar collapsed .. but that would 'never' happen ... MUUhahahahahaha.....
I was wondering what that post was all about .. 1.90?? From 1.45? Wonder what sort of coalition they'd have to form in UK to make that happen, some soul-selling might be involved ...
*******************
I'd rather make money than be right.
- #226,578
- May 14, 2010 7:16am May 14, 2010 7:16am
- | Additional Username | Joined Sep 2009 | 8,623 Posts
- #226,579
- May 14, 2010 7:17am May 14, 2010 7:17am
- Joined Sep 2006 | Status: Trader | 2,163 Posts
"Invest With The Insiders, Not The Masses"
George Muzea
- #226,580
- May 14, 2010 7:29am May 14, 2010 7:29am
I have closed my short and takeninggggggggggggggggg Long @ 1.4571, this would be confirmed when i have a break @ 1.4615. My trade who cares to know why let me know. first target pivot, then R1 if pivot breaks....... EVERYTHING IS POSSIBLE........